Russia sells 1.8 mln tonnes of grain since start of market interventions
MOSCOW. May 24 (Interfax) - Since it began grain-market intervention this year, Russia has sold 1.826 million tonnes of grain out of its state Intervention Fund for a total of 9.828 billion rubles.
There was 99,623 tonnes of grain sold for 570.753 million rubles on May 23. That included 72,963 tonnes of grain from the 2008 harvest (for 414.303 million rubles) and 26,660 tonnes of grain from the 2009 harvest (156,450 million rubles), says a statement from OJSC United Grain Company (UGC), Russia's agent for the Intervention Fund.
There were 44 organizations involved in the trading on Wednesday with whom UGC will clinch purchase deals.
In all, the trading involved 70 companies and 249,500 tonnes of grain from the harvests of 2005, 2008, and 2009 was on offer.
As of May 23, 306 organizations were accredited to take part in the Russian government's grain-market interventions.
UGC conducts exchange sales on seven floors: in Moscow, St. Petersburg, Rostov-on-Don, Nizhny Novgorod, Samara, Yekaterinburg, and Novosibirsk. The government plans to sell around 2 million tonnes of grain in all.